ASX Round-Up: Northern Minerals and Avanco Resources in Focus

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Northern Minerals (ASX:NTU) and Avanco Resources (ASX:AVB).
Northern Minerals is focused on developing heavy rare earths projects, and is particularly interested in dysprosium, which is found at its flagship Browns Range project in Western Australia. Construction is expected to start there in 2016, with initial production anticipated the following year.
Most recently, on August 6, Northern Minerals announced that the Australian government’s Foreign Investment Review Board does not object to Jien Mining making a $49.5-million investment in the company. Jien Mining has already completed due diligence on the transaction, and will now work with Northern Minerals to finalize it.

Brazil-focused Avanco Resources is targeting near-term copper production from the high-grade Antas mine, as well as completing exploration and development work at the Pedra Branca copper project. It’s also on the hunt for additional copper projects.
The company’s last news came at the end of July, when it released its activities report for the most recent quarter. One highlight is that Avanco was able to secure a financing package of about $80 million for the Antas mine. Construction of the mine was also authorized by the company’s board, and around 50 percent of build capex has been committed within budget.
 
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 
Editorial Disclosure: Avanco Resources is a client of the Investing News Network. This article is not paid-for content. 
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